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3604 Bomar Road Douglasville, GA 30135

3 Beds 2 Baths 1,134 sqft Built 1989

$194,900

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $171.87
  • 3 Days on Market
  • MLS # : 6828551
  • Updated Date : 01/16/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,134 sqft
  • Baths : 2 full
Listing Agent's Description

This is the one ..Fantastic 3bed, 2 bath ranch on level 1/2 acre+ lot! Home features: Vaulted family room with laminate hardwood flooring throughout. Newly renovated kitchen with new tile, backsplash, & appliances. Primary bedroom has private full bath and other secondary bedrooms share a 2nd full bath. Front exterior of home has new landscaping while a new poured patio provides entertaining space in back overlooking the large, level backyard with new privacy fence and storage shed. Convenient to Shopping, Dining and I-20. Only thing to do here is - Move In & Enjoy!!

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Welham Green

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $74k209k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Welham Green

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7931509

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Chapel Hill Elementary School Primary Regular 709 43 7
Chapel Hill Middle School Middle Regular 1,105 59 8
New Manchester High School High Regular 1,680 95 4

Chapel Hill Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 43
7
GreatSchools Rating

Chapel Hill Middle School

  • Education Level: Middle
  • # of students: 1,105
  • # of teachers: 59
8
GreatSchools Rating

New Manchester High School

  • Education Level: High
  • # of students: 1,680
  • # of teachers: 95
4
GreatSchools Rating
 

$175,410$214,390$194,900

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$677
Property Tax -$178
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$357

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$194,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,399

INVESTMENT

$57,399

Down Payment
$48,725
Rehab Estimate
$5,750
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

12.17

YEARS SAVED

$38,031

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,380

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,380
$1,380
RENT COMPS ANALYSIS
  • 3604 Bomar Road Douglasville, GA
    • 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.22
    •  
PROPERTY LISTING DETAILS
Valerie Lowery
1.770.241.7759
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828551
Last Updated: 01/16/2021
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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